Atmel Earnings: Here’s Why Shares are Up Now
Atmel Corporation (NASDAQ:ATML) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.91%.
Atmel Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 62.5% to $0.03 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Decreased 8.03% to $329.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Atmel Corporation reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.03. It beat the average revenue estimate of $321.35 million.
Quoting Management: “Improving business conditions, a healthier backlog, and our strong product portfolio provide us increased confidence moving forward this year,” said Steve Laub, Atmel’s President and Chief Executive Officer. “We are making good progress enhancing our cost structure which we expect to materially benefit our long-term margin profile.”
Key Stats (on next page)…
Revenue decreased 4.63% from $345.08 million in the previous quarter. EPS decreased 57.14% from $0.07 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.09 to a profit $0.06. For the current year, the average estimate has moved down from a profit of $0.42 to a profit of $0.31 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)